A recent report from the NAHB’s Eye on Housing says that due to tightened monetary policy, the count of total job openings for the entire economy has trended lower over the last year. They say this is consistent with a cooling economy that is a positive sign for future inflation readings. However, they point out that the recent increasing trend for unfilled construction jobs indicates an ongoing skilled labor shortage for the construction sector. Indeed…
“The number of open construction sector jobs increased for the most recent data, rising from 425,000 in January to 441,000 in February. The count was 409,000 a year ago during a period of weaker home construction. The construction job openings rate increased slightly to 5.1% in February. The recent, increasing trend for unfilled construction jobs indicates an ongoing skilled labor shortage for the construction sector.”
Click here to read the full report at the NAHB’s Eye on Housing.
